Interviews
Ralph Lauren footwear business impacts Reebok International Q3 results
25 Oct '05
1 min read
Footwear maker Reebok International Ltd reported net income for the third quarter ended September 30, 2005 of $117.7 million, or $1.87 per diluted share, an earnings per share increase of 39.6 percent when compared to net income of $81.8 million, or $1.34 per diluted share, for the third quarter of 2004.
The third quarter 2005 results were impacted by an after-tax gain of $49 million from the sale of the Company's Ralph Lauren Footwear business and $2.5 million of costs pertaining to certain legal and other expenses associated with the proposed merger with adidas. In addition, the Company's operating results were affected by the previously announced integration of The Hockey Company into the Reebok Brand and from the Company's previously announced plans to reposition its business with Footlocker Inc, as well as Footlocker's efforts to reduce their inventory levels over the balance of 2005.
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Reebok International Ltd, headquartered in Canton, MA, is a leading worldwide designer, marketer and distributor of sports, fitness and casual footwear, apparel and equipment under the Reebok, Rockport, CCM, JOFA, KOHO and Greg Norman Brands. Sales for 2004 totaled approximately $3.8 billion.
The third quarter 2005 results were impacted by an after-tax gain of $49 million from the sale of the Company's Ralph Lauren Footwear business and $2.5 million of costs pertaining to certain legal and other expenses associated with the proposed merger with adidas. In addition, the Company's operating results were affected by the previously announced integration of The Hockey Company into the Reebok Brand and from the Company's previously announced plans to reposition its business with Footlocker Inc, as well as Footlocker's efforts to reduce their inventory levels over the balance of 2005.
Click here to read further:
Reebok International Ltd, headquartered in Canton, MA, is a leading worldwide designer, marketer and distributor of sports, fitness and casual footwear, apparel and equipment under the Reebok, Rockport, CCM, JOFA, KOHO and Greg Norman Brands. Sales for 2004 totaled approximately $3.8 billion.
Reebok International Ltd
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